Indonesia widens palm oil export ban to include CPO, RBD palm oil and UCO
The Indonesian government confirmed in late Wednesday announcement that the palm oil export ban will now cover CPO, RBD palm oil and used cooking oil (UCO) in addition to RBD palm olein to be effective from 28 April. The move was in a bid to ensure sufficient domestic supply in the world’s largest palm oil producer nation.
CPO futures active month July rocked to high of 7132 but at the same time the President hinted that due to storage capacity limitations the ban may not stay for longer than 15-20 days. FCPO July tumbled 0.62% closing at 6944 following the remark.
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